FIT Biotech Oy
Company release October 14, 2016 at 17:45 pm EET
FIT Biotech Oy's Board of Directors has decided on the issue of Convertible Notes and Warrants
On August 25, 2016, the Board of Directors of FIT Biotech Oy (hereinafter also the "Company") decided to establish Convertible Note and Warrant Programmes in order to implement the Convertible Notes with Warrants Funding Programme of up to EUR 12,480,000 between the Company and Sitra.
The Company's Board of Directors has today decided to withdraw a second tranche of EUR 250,000 included in the Programme and to issue to Sitra a total of 250 Convertible Notes and 884,643 Warrants, which entitle to subscribe for the Company's K shares in accordance with the Terms and Conditions of the Convertible Notes and the Warrants.
FIT BIOTECH OY
Board of Directors
For further information:
Chairman of the Board of Directors Juha Vapaavuori
Tel: +358 50 372 0824
Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000
About FIT Biotech
FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.
FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.
FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.